“A penny saved is a penny earned” underlines the importance of saving. Saving is very essential in our life. One should spend less than his earning and save some portion for future use. You should make your expenses according to your income, do not exceed your expenditure than your income.
One has to be very controlled and patient in life in order to make logical expenses. Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving.
You can invest your money in different ways such as stocks, shares, mutual funds or you can come up with a profitable idea and start a business of your own.
“Only by taking responsibility for oneself, to the greatest extent possible, can one ever be free, and only a free person can make responsible choices – between right and wrong, saving and spending, giving or taking”. – Paul Ryan
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These days we see the price of land and gold increasing in greater percentage compared to other commodities. Thus, investing on gold or a property will double your money within few years.
You can double your money by learning to control your expenses. You have to first learn the art of saving then only you can earn more in your life by the way of investing your savings. Be a responsible person don’t spend lavishly or on things which are expensive and not required or important for your life.
Try to spend on things that are of basic necessity in your life and save rest of your money. You can use your saving as capital and start your own business or can fund it to companies that you might feel will make great profits in future, and with that profits you may end up buying things you really desire to possess in your life.
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There are many ways through which one can save in life, start by controlling your expenditure. Make a list of things you want to buy before going to the market, and shop according to your list. Do not buy anything extra and exceed your expenses. Stop going to shopping malls and end up buying things are costly and unnecessary.
Penny saving can be done in many forms. You can start by focusing your electricity and telephone expenses. Electricity and telephone are two things on which one can save a lot. In case of electricity one can save lots if one remains alert and switch off lights and fans and other electronic item immediately after their use, you can also install solar tube lights and fans. Similarly in case of telephone you can save by buying an affordable model and talking less on phone.
Thus, we see this phase is still applicable in the twenty first century. Your saving not only benefits you but also helps in preserving the environment by preventing wastage and contributes to the economic growth of country.